Industrial Nanotech

INTK

Chemicals - Specialty · Basic Materials

Price

$0.00

+0.00 (+0.00%)

Market Cap

$223,229

Exchange

Other OTC

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 9, 2026 · filings through Sep 30, 2023

Share count rising — dilution

+60.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 2.35B (2019) → 3.78B (2023)

Industrial Nanotech, Inc. is a small specialty chemicals company that makes nanotechnology-based insulation and coating products. Its main product, Nansulate, is a liquid coating that can be applied to surfaces like pipes, walls, and industrial equipment to reduce heat loss and prevent corrosion. The company sells to industrial facilities, commercial buildings, and government customers looking for energy-saving alternatives to traditional insulation.

The company earns revenue by selling its coating products directly and through distributors, with customers spread across North America and international markets. With a market cap near zero, Industrial Nanotech is a micro-cap company with very limited scale. The gross margin near 50% suggests the product itself carries decent value, but the deeply negative operating margin shows the company spends far more on overhead than it earns in sales. The key risk is whether the company can grow revenue fast enough to cover its operating costs before running out of resources.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-89.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-96.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

13.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$803 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Industrial Nanotech's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

51.5%

Healthy — 51.5% gross margin

Operating Margin

14.2%

Healthy — 14.2% operating margin

ROCE

1.6%

Weak — 1.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-93.5%

Shrinking sales (-93.5% YoY)

EPS YoY

-99.7%

Earnings shrinking (-99.7% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

281%

Turns 281% of profit into real cash

FCF Margin

6.7%

Modest free cash flow (6.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.21

Conservative — low debt load (0.21)

Interest Cover

2.35x

Tight — interest eats into profit (2.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

16.7x

Fair value — P/E 16.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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